A fund managed by Macquarie Group Limited (ASX:MQG) has inked a deal to purchase US-listed waste-management company WCA Waste Corporation (NASDAQ:WCAA).
According to media reports, WCA Waste and Macquarie Infrastructure Partners have entered into an agreement under which Macquarie will buy all of WCA’s shares for $6.50 per share in cash.
The deal is understood to be valued at about $US526 million and the transaction is expected to be completed in the first quarter of 2012.
CEO of Macquarie Infrastructure Partners has told The Wall Street Journal the WCA acquisition will leverage the company’s existing industry knowledge and help Macquarie expand and diversify its North American portfolio.
Macquarie Group reported a net profit of $308 million in the six months to September 30, 2011.
